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Argentina's use of Chinese yuan is soaring as dollars run short, and a top US manufacturer may join the trend (archive.is)

submitted 1 year ago by [email protected] to c/[email protected]

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[–] [email protected] 8 points 1 year ago (6 children)

For the record, this has more to do with Argentine financial mismanagement and China’s “expansive” fiscal policy than with the dedollarization that the headline is trying to imply.

[–] [email protected] 8 points 1 year ago

We (I'm from Argentina) have not enough dollars to pay the IMF loan and had a bunch of yuans in reserve China lend us to trade with them, a 'swap' as I heard they call it.

What's worrying is that yuans have a secret loan interest, probably quite a high rate. Don't ask were the IMF loan money went, for sure it wasn't spent on me.

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